The euro traded near a three-month low versus the yen before European Central Bank officials speak at a conference in Frankfurt, amid speculation they will ease monetary policy next month.
The dollar was near the weakest level since February against Japan’s currency before minutes tomorrow of the Federal Reserve’s April gathering. The Bank of Japan begins a two-day policy meeting today. Australia’s currency touched the lowest in two weeks as the central bank reiterated policy would likely stay accommodative for some time in minutes of its May meeting. The Thai baht fell after the army imposed martial law.
“ECB easing in June is becoming the consensus view,” said Etsuko Yamashita, chief economist at Sumitomo Mitsui Banking Corp. in New York. “There would be no buyers of euro. It’s more likely it will break lower into the next ECB meeting.”
The euro was little changed at 139.18 yen as of 11:05 a.m. in Tokyo from yesterday, when it touched 138.62, the lowest since Feb. 7. It was at $1.3712 from $1.3709 in New York. The dollar bought 101.51 yen from 101.50 yesterday, when it reached 101.10, the lowest since Feb. 5.
Australia’s dollar slipped 0.3 percent to 93.03 U.S. cents, after earlier dipping to 93.01, the lowest since May 6.
ECB officials Daniele Nouy and Luis Maria Linde are scheduled to speak today at the Frankfurt Finance Summit, while Erkki Liikanen speaks in Helsinki. The ECB sets policy June 5.
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